Northwestern Mutual Wealth Management Co. Boosts Stake in Ally Financial Inc. (NYSE:ALLY)

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,728 shares of the financial services provider’s stock after acquiring an additional 1,598 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ally Financial were worth $2,409,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Ally Financial in the first quarter worth $28,000. Rise Advisors LLC acquired a new stake in Ally Financial in the first quarter valued at $32,000. Quarry LP boosted its stake in Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 598 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Ally Financial during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Up 1.9 %

ALLY stock opened at $35.13 on Friday. The firm’s 50-day moving average is $38.89 and its two-hundred day moving average is $39.42. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. On average, analysts forecast that Ally Financial Inc. will post 3.15 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.42%. Ally Financial’s dividend payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALLY. Barclays cut their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company decreased their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. TD Cowen lowered their target price on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $39.00 to $45.00 in a research report on Monday, July 8th. Finally, BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average target price of $41.38.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.